global home warranty service market size was valued at $7,315.1 million in 2020, and is expected to reach $13,611.2 million by 2030

PORTLAND, UNITED STATES, May 19, 2023 /EINPresswire.com/ — Purchasing a home is a significant investment, and protecting that investment is crucial for homeowners. One way to safeguard against unexpected expenses due to home system or appliance failures is by acquiring a home warranty service. This article highlights the benefits that home warranty services offer, providing homeowners with peace of mind and financial protection.

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home warranty is a service contract that, over a period, covers the cost of maintaining the house or equipment. The service covers home systems and appliances as well as pays for repairs and replacements. The service contracts renew each year for home plans and equipment for existing customers who have opted for the home warranty schemes.

By KEY PLAYERS

AFC Home Club

Cinch Home Services, Inc.

First American Home Warranty

FNHW (Fidelity National Home Warranty)

Frontdoor, Inc.

Home Buyers Warranty Corporation

Landmark Home Warranty

Old Republic International Corporation

Oneguard Home Warranties

Transforms SR Brands LLC

Comprehensive Coverage: Home warranty services provide comprehensive coverage for a range of home systems and appliances, including HVAC systems, electrical systems, plumbing, kitchen appliances, and more. With a home warranty in place, homeowners can rest assured that if any covered item breaks down due to normal wear and tear, it will be repaired or replaced by the warranty provider. This coverage extends beyond what is typically covered by homeowners insurance policies.

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Financial Protection: Repairing or replacing major home systems or appliances can be costly, and unexpected breakdowns can strain a homeowner’s budget. With a home warranty service, homeowners pay a relatively small annual fee or monthly premiums, depending on the provider and plan chosen. In the event of a covered breakdown, the warranty service will handle the cost of repairs or replacements, saving homeowners from significant out-of-pocket expenses.

Convenience and Simplified Process: When a covered system or appliance malfunctions, homeowners simply need to contact their home warranty service provider to initiate a claim. The provider will then arrange for a qualified technician or contractor to assess the issue and carry out the necessary repairs or replacements. This streamlined process eliminates the hassle of searching for reliable service providers and negotiating repair costs.

Added Home Sale Value: Having a home warranty in place can increase the marketability and value of a home, particularly when selling. Potential buyers often find homes with a warranty more appealing as it provides assurance that they won’t face immediate financial burdens related to unexpected repairs after purchasing the property. Offering a home warranty can help sellers attract more buyers and potentially secure a higher selling price.

Peace of Mind: One of the most significant benefits of a home warranty service is the peace of mind it offers to homeowners. Knowing that their major home systems and appliances are covered by a reliable warranty provider provides a sense of security. Homeowners can enjoy their homes without worrying about the financial impact of unexpected breakdowns and repairs.

Conclusion: Home warranty services provide homeowners with comprehensive coverage, financial protection, convenience, and peace of mind. By investing in a home warranty, homeowners can safeguard against unexpected expenses, simplify the repair process, increase their home’s value, and enjoy the comfort of knowing that their major systems and appliances are protected. Consider exploring different home warranty providers and plans to find the one that best suits your needs and provides optimal coverage for your home.

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David Correa
Allied Analytics LLP
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